Truth Social, the social media arm of Trump Media & Technology Group,
of Donald Trump, filed on this Thursday (5) with the Securities and Exchange Commission (SEC) to launch a spot Bitcoin ETF in the U.S. If approved, the product will be listed on the New York Stock Exchange (NYSE).
The risk section of the product addresses the favorable policies toward the cryptocurrency sector implemented by Donald Trump since he returned to the presidency of the United States in January and also by Congress: the creation of a sovereign cryptocurrency fund and the legal framework project to regulate the digital asset market.
“These developments indicate that regulatory clarity is still evolving, and its impact on the digital asset market has not yet been fully understood and may be adverse,” states the document.
Eric Balchunas, an analyst specializing in ETFs, said he is convinced that this is the first time the asset issuer is mentioned in the risk section. “I am almost certain that this is the first time the advisor appears in the risk section… it’s all so surreal,” he said in a post on X.
As pointed out by The Block portal, the request to the SEC was made two days after NYSE Arca submitted a supplemental 19b-4 form, seeking the exchange's approval to trade shares of the proposed fund.
